Well, smiles all round - the SP has rebound to the base of the...

Well, smiles all round - the SP has rebound to the base of the cliff it plunged down in Jan '14.  Now to climb the cliff.

That cliff, a 30% fall, was caused by TRS post-Christmas results which showed flat sales - not declining, mind you, just flat.  They also announced at the time their review of over-priced shopping mall leases.  A year later and TRS appears to be on track, closing down poorly performing outlets and opening new ones in market-identified areas.  Those new store openings have decreased from 33 the previous year to 12 currently, so stopping a big drain on their treasury.

"Although the retailer reported a 1.9% dip in its full-year profit, it did experience a much stronger second half with the turnaround "beginning to gain momentum". Comparable sales were down 0.8% for the year but up 2.3% for the second half."
(http://finance.ninemsn.com.au/newsbusiness/motley/9020631/why-these-4-asx-stocks-are-soaring-today)

FT reports that the consensus divvy for the coming year is expected to be 36c, 21.3% up from the 30c for 2015.  This is driven than the higher-than-expected semi-annual earnings of 53c/sh as compared to the consensus 45c/sh, which itself underperformed the previous year.  Brokers lover surprises on the upside, which TRS has now managed to achieve two years straight. (http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=TRS:ASX)

Those same analysts now forecast average annual revenue growth of 10.7% to 2017.  So, as long as management deliver on cost cuts, the short term future looks good and the stock compelling.